Bitcoin has reached a new milestone, breaking the $80,000 mark and continuing its upward trajectory. This increase in value was driven by heightened retail and institutional interest, and was followed by a week of positive market developments. Analysts noted the surge in spot trading volumes and a decline in exchange reserves, indicating significant buying pressure.
Additionally, liquidation data shows that over $350 million in bearish bets were wiped out, including $120 million worth of Bitcoin shorts. Despite the cautious optimism, the focus now shifts to whether Bitcoin can maintain its momentum or if profit-taking will temper the gains.
